First, it's good to understand that mortgage forbearance is suitable for borrowers facing temporary hardships. If you're having a short-term financial crisis, mortgage forbearance may work out for you. Start by contacting your mortgage company, and explaining your financial hardships. Depending on your current financial situation and existing mortgage, the mortgage company will check your eligibility for forbearance. If you qualify their eligibility criteria, the company will discuss the period of forbearance, reduced payment amount or suspension of payment for the forbearance term, and terms of repayment. Before contacting the mortgage company, do some homework at your end. Prepare a folder of your mortgage statements, all monthly debt payments, and income proof. This will help you answer the mortgage company efficiently and strengthen your case. Good luck!
Some states have Federal dollars to asst.. google your state and loan modification - don't contact someone who says they are a loan mod consultant unless it is a Gov't agency.. too many bad actors take advantage of people in your situation.
in California ..we have Save your home California (CalHFA offers help with Federal $)
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